Over the past week, Dogecoin’s price jumped 21%, reaching 0.38 USD. Significant whale activity has contributed to this surge, with transactions exceeding 1 billion DOGE, valued at around 413 million USD. Such movements by whale investors greatly boosted market confidence, suggesting a possible bullish trend for the cryptocurrency.
January is historically a profitable month for Dogecoin, showing an average return of 85%. For 2025, analysts from Galaxy Digital predict that DOGE could reach the 1 USD milestone, pushing its market cap to 100 billion USD. This projection enhances Optimism for long-term investors in the cryptocurrency market.
Investor engagement with DOGE is on the rise, evidenced by a 50% increase in open interest, which grew from 2 billion USD to 3 billion USD over a short span. Canadian firm Spirit Blockchain intends to use its DOGE holdings for yield generation, similar to Bitcoin strategies, indicating increased confidence in Dogecoin’s potential.
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